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Argentina Reinstates Export Levies After $7 Billion Surge, Soy Retreats as Corn Holds Firm

Reinstated levies and weak crushing margins are pulling soybean prices back toward parity levels.

Overview

  • ARCA said the US$7 billion target in export-sale registrations was reached in about three days, and pre-decree rates were restored to 26% for soy and 9.5% for wheat and corn.
  • Soybean prices retraced toward parity-consistent levels, with the A3 available market near US$347 per ton and new-crop April–May around US$311.
  • In Rosario, soy closed the week at ARS 495,000 per ton after a roughly ARS 40,000 weekly gain, reflecting currency moves and partial pass-through from the brief duty holiday.
  • Corn prices stayed firm around US$181 per ton as exporters worked to cover registered sales, contrasting with soy’s softer tone.
  • Oilseed processing margins remained negative at current FOB values (oil ~US$1,066, meal ~US$286), and producer groups pressed for predictable, long‑term policy after uneven benefits from the short-lived measure.